The latest figures show that the first eleven months of 2022 have seen the installation of 6,100 new crypto automated teller machines .
The temps have significantly slowed down due to the ongoing bear market. In comparison, over 20,300 crypto ATMs popped up in 2021 .The skyrocketing prices of most digital assets last year and the huge investor interest have prompted the planting of 20,300 crypto ATMs across the globe during 2021 . Nonetheless, the recent economic turmoil, which started from the mass printing of fiat currency from central banks , and was intensified by military conflicts, record inflation, and others, has taken its toll on the industry. The global cryptocurrency market capitalization has shrunk to $850 billion , while bitcoin’s price is down by over 75% for the past year.
This setback has logically diminished the interest among investors and the installation of new crypto ATMs. 6,100 such devices have popped up during the first 11 months of 2022, which is approximately three times less than in 2021.The total number of crypto ATMs across the globe is 38,863. The USA is the undisputed leader having over 34,000 of those machines located on its territory.
“There is a sense of security that BTC can be converted into cash immediately. Virtual currency tends to attract attention only for investment, but it also has potential as a settlement currency. I want to expand,” Gaia’s President – Motohiro Ogura – said on the move.